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Updated almost 4 years ago,

User Stats

19
Posts
9
Votes
Lucia Lilac
  • Rental Property Investor
9
Votes |
19
Posts

Buying Property under an LLC

Lucia Lilac
  • Rental Property Investor
Posted

Hello BP!

I am currently in the market to purchase my 3rd investment property in Rochester NY. I purchased the first 2 under my name but have been doing some research that buying under an LLC is safer. I created a LLC but I am having a hard time finding a Bank that will allow me to purchase under my LLC. I did some research and it seems like it's pretty hard to purchase an investment property under a New LLC. I saw some people saying they put their properties under an Umbrella Policy. When I spoke to the bank all they said to me was I had to work with a "Business Bank". I am unsure if I should continue looking for a bank that will let me purchase under an LLC or if I should put my properties under an umbrella policy instead. Any advice would help on this topic, thanks in advance!

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